Moffett Nathanson Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price objective reduced by stock analysts at Moffett Nathanson from $53.00 to $52.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the cable giant’s stock. Moffett Nathanson’s target price points to a potential upside of 116.75% from the stock’s current price.

Several other research firms also recently commented on CMCSA. Deutsche Bank Aktiengesellschaft cut Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research note on Friday, April 24th. Wall Street Zen upgraded Comcast to a “hold” rating in a research report on Saturday, March 14th. Royal Bank Of Canada raised their price target on shares of Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Evercore lifted their price objective on shares of Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Comcast in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Comcast has an average rating of “Hold” and an average target price of $34.52.

Comcast Stock Up 0.1%

Comcast stock traded up $0.02 during trading hours on Tuesday, reaching $23.99. The stock had a trading volume of 2,691,364 shares, compared to its average volume of 32,578,100. Comcast has a 52 week low of $23.13 and a 52 week high of $36.66. The company has a market cap of $85.70 billion, a price-to-earnings ratio of 4.71, a PEG ratio of 1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50 day moving average price is $26.24 and its 200-day moving average price is $28.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter last year, the firm earned $1.09 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Comcast will post 3.53 EPS for the current year.

Institutional Investors Weigh In On Comcast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares in the last quarter. State Street Corp increased its holdings in shares of Comcast by 3.4% in the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the last quarter. Capital World Investors increased its holdings in shares of Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares during the last quarter. Dodge & Cox lifted its position in Comcast by 0.4% during the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after buying an additional 399,596 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Comcast by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after buying an additional 1,465,428 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.